Restoration Hardware Projects 35-38% Q1 Sales Growth
May 10, 2013,
CORTE MADERA, Calif.-Restoration Hardware said it expects first-quarter sales to total $295 million to $300 million, up 35 to 38 percent from the first quarter of last year.
In addition, same-store sales are expected to register a 41 percent gain over last year, on top of the previous year's first-quarter increase of 26 percent. Net income is expected to range from $900,000 to $1.5 million. A Restoration Hardware statement said the company hasn't yet finished with tallying the numbers from the quarter, meaning that they could still vary from what it stated today.
Carlos Alberini, Restoration Hardware's CEO, said the quarter's strength owed to "stronger customer response to our product assortment" and "better inventory position, which has enabled us to ship product earlier than anticipated and improve customer service levels."